Why do Tifosy need to verify my identity?
As an investment firm authorised and regulated by the Financial Conduct Authority (FCA), Tifosy is required to complete a risk assessment of each investor. Part of this assessment includes Customer Due Diligence (CDD), pursuant to which Tifosy must identify you and verify your identity.
CDD is designed to, along with all risk assessments Tifosy must perform, prevent online investments being used for financial crime such as the laundering of money or the funding of terrorism. The CDD process is referred to as KYC (know your customer) throughout the Tifosy Investment Platform and communications.